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I think you'd probably get a bit better performance for complex algorithms than the event editor. You could also write re-usable functions.

For example, pathfinding is very CPU heavy, it would be complex to code the event editor, it also would be difficult to copy from one game to another. However, the logic for pathfinding is the same in every game (there's slightly different algorithms, but the principle is very similar), so having a pathfinding function in python may allow you to more easily use your algorithms between different games.

It's not necessarily used for improved performance though, some people may have stuff written in python that they don't want to convert to the event editor, so they can have the two talk to each other.